Formal wear apparel label ARROW, which was recently tagged as the “Most Trusted Brand in India” by Trust Research Advisory’s Brand Trust Report, is now planning to expand its retail network in the country.
The brand is considering to open numerous Exclusive Brand Outlets (EBOs) in the current financial year.
The new stores are expected to come up majorly in Tier II and III Indian cities. At present, ARROW runs over 250 EBOs (around 50 per cent of which are housed in six Indian cities) and nearly 1,000 shop-in-shops.
Confirming the news to Apparel Resources, Sumit Dhingra, VP & Chief Operating Officer, ARROW at Arvind Lifestyle Brands, affirms, “We are well-distributed in the top metros and cater to a large, loyal and growing customer base. The brand is now focussing on Tier II & III cities. Going forward, this year we will open ‘55’ exclusive brand stores.”
Markedly, out of the upcoming 55 EBOs, 40 will reportedly come up in Tier II and III towns.
Additionally, the apparel brand is eyeing to attain more than 20 per cent growth in year-on-year sales figure in the next 4-5 years and is very much optimistic of the target.
Not only that, ARROW aims to capture a significant share in the online Indian fashion retail business as well. The brand’s e-commerce operations currently contributes nearly 11 per cent to it overall revenues. The objective is to make it 20 per cent in the coming years.
Significantly, ARROW has also completed its 25-year stay in the Indian fashion market. “To celebrate 25 years in India, we have recently launched a new store design concept at High Street Phoenix, Mumbai. The store design plays up the brand’s strong roots in the past, establishing its heritage of dressing professionals over the years and expert craftsmanship in shirt making,” Mr Dhingra told us.
